On January 1, 2018, Bark Company invests $10,000 in Roots, Inc. stock. Roots pay Bark a $400 dividend on August 1, 2018. Bark sells the Roots's stock on August 31, 2018, for $10,450. Assume the investment is categorized as a short-term equity investment and Bark Company does not have significant influence over Roots, Inc. Requirement:A) Journalize the transactions for Bark's investment in Roots's stock. B) What was the net effect of the investment on Bark's net income for the year ended December 31, 2018?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On January 1, 2018, Bark Company invests $10,000 in Roots, Inc. stock. Roots pay Bark a $400 dividend on August 1, 2018. Bark sells the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Currently you purchase ten frozen pizza per month. You will graduate from college in December, and you will start a new (high-paying) job in January. You have no plans to purchase frozen pizzas in January. For you, frozen pizzas are a (n)
Answers (1)
As the CEO of a conglomerate, Eva Morris exhibited her strong commitment toward the company’s core value that customers’ well-being is more important than profit when she convinced the board of directors to liquidate the company’s pesticide
Answers (1)
On December 31, 2017, Extreme Fitness has adjusted balances of $800,000 in Accounts Receivable and $55,000 in Allowance for Doubtful Accounts.
Answers (1)
On behalf of Digital Cable Company, Ed signs an instrument in which he promises to deliver I, 000 feet of optic fiber cable to First Internet Bank on March l. This instrument is a. negotiable. b.
Answers (2)
You have scheduled payments of $28.31, $34.56, and $19.12 coming up in the next week. Your current balance is $70.23. You do not expect any deposits. Will you have enough money in the account to cover the payments?
Answers (2)
New Questions in Business
Maxwell and Smart are forming a partnership. Maxwell is investing a building that has a market value of $180,000. However, the building carries a $56,000 mortgage that will be assumed by the partnership. Smart is investing $120,000 cash.
Answers (1)
3. Red reflectors on lane lines always mean A. you are traveling the wrong way B. a fire hydrant is nearby C. you are traveling in the correct direction D. you may not change lanes
Answers (2)
You and your twin sister, both 18 years of age, were in a car accident. She had a clean break across the humerus and the upper arm bone-no bleeding, no break in the skin.
Answers (1)
Dextra Computing sells merchandise for $17,000 cash on September 30 (cost of merchandise is $11,900). The sales tax law requires Dextra to collect 3% sales tax on every dollar of merchandise sold.
Answers (1)
Manufacturing jobs have historically been based on scientific management and the efficiency approach to job design.
Answers (1)